DBP vs. BND
DBP (Invesco DB Precious Metals Fund) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, DBP returned 11.21%/yr vs 1.58%/yr for BND. At a 0.22 correlation, their price movements are largely independent. DBP charges 0.78%/yr vs 0.03%/yr for BND.
Performance
DBP vs. BND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBP achieves a -3.82% return, which is significantly lower than BND's 0.52% return. Over the past 10 years, DBP has outperformed BND with an annualized return of 11.21%, while BND has yielded a comparatively lower 1.58% annualized return.
DBP
- 1D
- 0.09%
- 1M
- -11.93%
- YTD
- -3.82%
- 6M
- -0.66%
- 1Y
- 30.66%
- 3Y*
- 29.99%
- 5Y*
- 16.18%
- 10Y*
- 11.21%
BND
- 1D
- -0.12%
- 1M
- 0.45%
- YTD
- 0.52%
- 6M
- 0.91%
- 1Y
- 4.77%
- 3Y*
- 4.17%
- 5Y*
- 0.03%
- 10Y*
- 1.58%
DBP vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | -3.82% | 73.43% | 26.71% | 8.68% | -1.51% | -7.10% | 26.79% | 15.89% | -4.31% | 10.58% |
BND Vanguard Total Bond Market ETF | 0.52% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between DBP and BND is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.22 |
The correlation between DBP and BND shifts across timeframes, from 0.22 (all time) to 0.34 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DBP vs. BND — Risk / Return Rank
DBP
BND
DBP vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and Vanguard Total Bond Market ETF (BND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DBP | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.65 | -0.58 |
| Martin ratioReturn relative to average drawdown | 2.77 | 4.81 | -2.03 |
Loading charts...
Drawdowns
DBP vs. BND - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for DBP and BND.
Loading charts...
Drawdown Indicators
| DBP | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -18.58% | -35.31% |
Max Drawdown (1Y)Largest decline over 1 year | -30.03% | -2.68% | -27.35% |
Max Drawdown (3Y)Largest decline over 3 years | -30.03% | -5.92% | -24.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.03% | -17.91% | -12.12% |
Max Drawdown (10Y)Largest decline over 10 years | -30.03% | -18.58% | -11.45% |
Current DrawdownCurrent decline from peak | -27.52% | -2.12% | -25.40% |
Average DrawdownAverage peak-to-trough decline | -25.42% | -3.06% | -22.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.56% | 0.92% | +10.64% |
Volatility
DBP vs. BND - Volatility Comparison
Invesco DB Precious Metals Fund (DBP) has a higher volatility of 9.06% compared to Vanguard Total Bond Market ETF (BND) at 1.28%. This indicates that DBP's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBP | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.06% | 1.28% | +7.78% |
Volatility (6M)Calculated over the trailing 6-month period | 30.70% | 2.74% | +27.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.35% | 3.75% | +29.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 6.03% | +15.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 5.53% | +13.31% |
DBP vs. BND - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than BND's 0.03% expense ratio.
Dividends
DBP vs. BND - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.53%, less than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
DBP Invesco DB Precious Metals Fund | 2.53% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% | 0.00% | 0.00% |
Frequently Asked Questions
DBP and BND have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBP has higher volatility (9.06%) compared to BND (1.28%). In terms of maximum drawdown, DBP dropped -53.89% vs BND's -18.58%.
On 10-year performance, DBP leads with 11.21% vs 1.58% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBP has performed better with a 11.21% return vs 1.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.78% for DBP.
BND has the higher dividend yield at 3.96%, compared with 2.53% for DBP.
DBP is categorized as Precious Metals, while BND is Total Bond Market. DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.78% for DBP and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.18 vs 0.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for DBP and BND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer